by Adv Akella A S Prakasa Rao, B.E.(Hons), LLB | May 30, 2022 | GST
The much awaited decision in the case of Ocena freight is pronounced by the Supreme Court much to the relief of the tax payers. Let us first understand how common sense has won the day in the matter and then the way forward for all concerned.Service availedShipping...
by Adv Akella A S Prakasa Rao, B.E.(Hons), LLB | May 19, 2022 | GST
On April 15th, 2020, the government took a historic step towards its goal to get the entire Indian population insured. As a part of order No. 40–3/2020-DM-I (A) (Issued as consolidated revised guidelines...
by Adv Akella A S Prakasa Rao, B.E.(Hons), LLB | Apr 16, 2022 | GST
Under GST, many multilocational units are consolidating their operations and warehouses as the tax incidence for inter-state and intra-state being the same, but for the nomenclature as IGST or CGST+SGST. The other operational reasons may also influence the decision...
by Adv Akella A S Prakasa Rao, B.E.(Hons), LLB | Apr 12, 2022 | GST
Sec 2(77) of CGST Act, 2017 defines a “non-resident taxable person” means any person who occasionally undertakes transactions involving the supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed...
by Adv Akella A S Prakasa Rao, B.E.(Hons), LLB | Mar 16, 2022 | GST
One of the preferred ways of business transfer is through a slump sale. Slump sale, in simple terms, is a transfer of a business, either in whole or in part, from one entity to another, for a lump sum. Wherein the lump sum is arrived at without attaching any specific...
